- NanoFilm Technologies (SGX:MZH) reported a 92.8% y-o-y decline in net profit to S$3.1m in FY23. This was better than our expectation of a net loss of S$0.7m (as our operating expenses assumption was higher), but 60.4% below Bloomberg consensus’ S$7.9m net profit forecast (which assumed better margin).
FY23 net profit dipped as excess inventory pared customer demand
- - Read this at SGinvestors.io -
- a slower pace of cost optimisation.
- A final dividend of 0.33 cents was declared.
Management hopeful for improvement in FY24F
- In its FY23 results release, NanoFilm's management guided that barring unforeseen circumstances, it expects FY24F financial performance to improve over FY23 as customer’s deplete their inventories and launch new products in 2H24F, which would drive demand for its coating services.
- - Read this at SGinvestors.io -
Mixed outlook for its BUs
- Read more at SGinvestors.io.
